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Wednesday, January 5, 2011

New tax law will delay 2010 return processing

The IRS has announced that it will take until mid to late February before their system will be able to process certain income tax returns due to the late tax law changes.

Individual income tax returns affected include those with the following, a Schedule A for itemized deductions, a claim for higher education expenses, a claim for educator expenses, and a claim for state or local sales taxes.

This delay will apply to all filers, whether they file electronically or by paper.